Deoleo (OLE) H2 2025 earnings summary

Executive summary

• EBITDA increased by 50% to €50m and net profit reached €20m for FY2025, supported by the EVOO-lution roadmap, strong business performance, and a €17m impairment reversal on brands.

• Achieved 11% growth in sales volumes and 17% increase in unit gross margin compared to 2024, resulting in a 30% rise in gross margin to €129m.

• All international business units posted sustained growth, with notable market share gains in the US, Germany, Italy, Spain, Northern Europe, and India.

• Innovation and new product launches contributed 25% higher gross margin than the rest of the portfolio, with increased brand investment.

• Leadership emphasized the resilience and sustainability of the business model, highlighting improved governance and operational execution.

Financial highlights

• Revenue for 2025 was €820.9m, down 17.6% year-over-year, while gross profit rose 29.6% to €128.5m.

• Operating expenses increased by 19.5% to €78.6m; EBITDA grew 49.6% to €49.9m.

• EBIT before non-recurring items more than doubled to €62.2m; net consolidated profit was €19.7m, reversing a €54.5m loss in 2024.

• Operating cash flow reached €56m, up 72% from 2024, and working capital was reduced by 27%.

• Advertising and promotion investment grew by 30% to €17m.

Outlook and guidance

• Forecasts for 2026 are solid, with expectations of further earnings growth driven by normalized raw material markets, geographical diversification, and robust brand performance.

• The EVOO-lution roadmap and operational improvements are expected to deliver additional EBITDA growth through 2028.

• Focus for 2026 is on consolidating growth, capturing further value, and improving unit margins through efficiency initiatives.

• Confidence in continued value generation for shareholders, supported by brand strength and consumption recovery.